We have received many questions regarding the taxation of your life insurance settlement.
We recommend you speak to a professional tax advisor regarding this issue. Typically, any amount you receive in excess of the cash surrender value would receive preferential tax treatment as capital gains. Viatical Settlements, the prototype from which Life Settlements were developed, are […]
A Viatical Settlement is a little bit different from a Life Settlement. I put together a brief description about the two settlement types.
A life settlement refers to the sale of a policy of a non-terminally ill insured, typically a senior citizen, while a viatical settlement refers to the sale of a policy where the insured […]
Make sure when dealing with a Life Settlement Broker, that you are dealing with a reliable source.
Some basic broker requirements include:
Prominently display the viatical or life settlement provider’s, provider representative’s, or broker’s full name, home office address, and telephone number.
That all confidential information solicited or obtained by a viatical or life settlement provider, provider representative, […]
You are urged to contact your financial adviser or tax professional to learn what taxes might apply.
However a Life Settlement transaction taxes might include:
Some generalizations can be made, however. If the policy owner has a documented life expectancy of under two years, the settlement qualifies as a Viatical and is usually tax-free.
If your life expectancy […]
Life insurance policies from individuals 65 and older can be sold for a lump sum cash payment. This type of transaction is called a Life Settlement, Life Insurance Settlement, or a Viatical Settlement which is broken down into either a Insurance Settlement or Viatical Risk.
In the past, an under performing life insurance policy has had […]
Sen. Usie Richards amended the bill Thursday to give the GERS board another investment option - viatical life and senior settlement policy contracts, investments in which the investor buys insurance policies from terminally ill or old people for a percentage of the total policy. The investor pays the premiums and receives the policy payout when […]
ORLANDO, FL — (Market Wire - Sep 16, 2005) — The Viatical & Life Settlement Association of America (VLSAA) announced today that it and its members have made a thirty-five thousand five hundred and seventy dollar ($35,570) contribution to the American Red Cross Hurricane Relief Fund for the benefit of the victims of Katrina.
Members […]
MIAMI, Fla. - Investors who claim they were defrauded in the purchase of life-insurance policies from the now defunct Mutual Benefits Corp. have reached a $10 million settlement with the firm’s lawyer.
The deal with Fort Lauderdale-based Brinkley, McNerney, Morgan, Solomon & Tatum would mark the first major settlement between more than 29,000 Mutual Benefits investors […]
VIATICAL INSURANCE
An investor lawsuit over the collapse of Fort Lauderdale’s Mutual Benefits Corp. has yielded a $10 million settlement with the firm’s lawyers.
BY PATRICK DANNER
[email protected]
Investors who claim they were defrauded in the purchase of life-insurance policies from the now defunct Mutual Benefits Corp. have reached a $10 million settlement with the firm’s lawyer.
The deal with […]
But Venice agent denies wrongdoing
“Nobody ever lost money; it’s safe.”
Those words, uttered by Venice-area financial planner Herman “Skip” Jaehne, led retirees Ron Gillis of North Port and John Romanus of Port Charlotte to invest many thousands of dollars in “viatical settlements.”
No one could lose on the investments, Jaehne argued, because a viatical settlement is an […]
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